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Business Description
SAFECO Corporation, through its operating subsidiaries, is engaged in property and casualty insurance, surety, life insurance and asset management. The Company's property and casualty insurance operations are under its Property & Casualty division. Its life insurance and asset management operations are under the Life & Investments division. The Company's other operations are under its Corporate division. Through independent agents, the Company's Property & Casualty division writes personal, commercial and surety lines of insurance. The Life & Investments division offers individual and group insurance products, retirement services, annuity products, mutual funds and investment advisory services. The Corporate segment includes operating results for the Company, SAFECO Financial Products, SAFECO Properties, and inter-company transaction eliminations.

Financial Information
SAFC is a holding company engaged in inusrance and other finance related businesses. The Company's insurance subsidiaries engage in property and casualty insurance, surety and life insurance. For the six months ended 6/02, revenues rose 2% to $3.51 billion. Net income from continuing operations and before accounting change totaled $168.8 million vs. a loss of $897.9 million. Results reflect realized investment gains and the absence of goodwill write-off charges.